FMR LLC reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 61.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,650,946 shares of the company's stock after selling 4,216,006 shares during the quarter. FMR LLC owned about 0.50% of American Electric Power worth $244,497,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of American Electric Power in the fourth quarter valued at about $220,983,000. Vanguard Group Inc. raised its holdings in American Electric Power by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock valued at $4,767,425,000 after acquiring an additional 763,813 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in American Electric Power by 31.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company's stock worth $315,498,000 after purchasing an additional 738,756 shares in the last quarter. ANTIPODES PARTNERS Ltd boosted its holdings in shares of American Electric Power by 94.5% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,386,375 shares of the company's stock worth $127,876,000 after purchasing an additional 673,644 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of American Electric Power by 168.0% in the fourth quarter. Prudential Financial Inc. now owns 917,762 shares of the company's stock valued at $84,645,000 after purchasing an additional 575,318 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on AEP shares. Morgan Stanley boosted their price objective on American Electric Power from $108.00 to $113.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Guggenheim raised shares of American Electric Power from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd. BMO Capital Markets raised their price objective on shares of American Electric Power from $107.00 to $111.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 26th. Finally, Bank of America lifted their target price on shares of American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $100.77.
Read Our Latest Report on American Electric Power
American Electric Power Trading Up 0.1 %
NASDAQ AEP traded up $0.10 on Tuesday, reaching $106.68. The stock had a trading volume of 2,597,967 shares, compared to its average volume of 3,174,975. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $110.48. The stock has a fifty day moving average price of $104.39 and a two-hundred day moving average price of $99.32. The firm has a market capitalization of $56.93 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 2.97 and a beta of 0.43. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.
American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter last year, the business posted $1.23 EPS. As a group, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power's payout ratio is currently 66.43%.
About American Electric Power
(
Free Report)
American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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